If a Person Borrows $2,000 at 5% Interest and Never

question 120

Multiple Choice

If a person borrows $2,000 at 5% interest and never makes any payments, how much will the loan balance be after two years?

• A) $2,005.25
• B) $2,010
• C) $2,200
• D) $2,205

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Definitions:

Decline Stage

A phase in the product lifecycle or business where sales begin to fall due to market saturation, technological obsolescence, or changing consumer preferences.

Promotion Activities

Marketing efforts designed to increase awareness, interest, and sales of a product or service through various strategies such as advertising, discounts, and events.

Industry

A group of companies or businesses that produce or supply goods, services, or sources of income within a similar sector.

Test Marketing

Introduction of a new product supported by a complete marketing campaign to a selected city or geographic area.